 running just waiting for youtube to appear youtube should appear about now yep youtube is up and running mic test one two three three two one i think that's all fine okay welcome to another sorry microphone too close um another live one hour session um on eth or breakfast trading um my name is Moby and i'll just run you through some disc uh some disclaimers and then just get to me general disclosure all bookmap limited materials information and uh and presentations are for educational purposes only and should not be considered specific investment nor advice trading futures equities and digital currencies involves substantial risk of loss and is not suitable for all investors past performance is not indicative of a future results okay i think we're just on auto slides for that one so i will just let that run um just a very brief recap about me i have traded for quite a while i trade in a discretionary and an algorithmic fashion from a discretionary perspective i mainly use ycov which does include supply and demand but i also use volume profile algorithmically i have a bunch of algos indicators etc um i have a bunch of free ones uh on trading view which anybody is free to check out whenever you want okay let me get rid of the that and let us bring up the live es session okay um that's going to be there i'm i'm trailing some technology today so bear with me during this hour whilst i try it so i've got i've got a little app here to switch between tabs during my presentation um i've also got a drawing tablet so this should be fun when i actually draw on bookmap with a pen um but anyway i'm not the best artist but i thought it would be a better representation of the action inside bookmap and in my presentation then just through a mouse a mouse is ridiculously hard to write words for example anyway um yeah that's the es as it is you've got this strange little iceberg that they're pushing up or helping to lure action towards the high liquidity above anyway anyway we're not going to focus on live pricing action just for a little while we're going to go through a presentation instead and this one i have named planning for et uh planning for eth trading um what i'd like to do is to talk about the process of putting yourself into a position that you are ready to take trades to do the absolute best that you can by having a process that is designed to maximize your performance um i will rather performance of the setups that you've designated as having a real probability of a return over r okay so if i go through um the elements i posted this in the discord uh a few hours ago but we're going to go through each of these bullet points we don't necessarily have to go through the whole session today uh the whole of each of these bullet points today but we can continue another time okay um i will stop there for a second and just mention that i can see comments in youtube and discord and i believe everything is is working correctly tonight so feel free to um feel free hold on one second i do think there we go um let me just check that that is showing correctly i just didn't think the whole screen was in the frame anyway i think that is now definitely in frame um so if anybody has any comments please feel free to post them and i will pause and answer them and good morning tom i'm actually going to mention a couple of blunt thoughts i have on profile which will very uh uh distance myself from some of yours but anyway um uh i'll let you listen to the middle in due course anyway here we go first of all sound mind and body this is the first step and um like anybody would tell you if you're not in the right frame of mind whether it's mind or body you should not be trading okay my first go at drawing let's see if this works come on yep right so let us just draw somebody here this is probably the worst drawing you ever seen so in terms of mind we have a little bubble with a few waves in and in terms of body we have some shoes with terrible laces okay what do i mean by the right physical and mental shape to trade um i have looked at a lot of this i mean i think there's an awful lot on the internet and lots of courses about how this can impact your edge i believe it has some impact on your edge i don't believe it's a total determining factor but you but you should take care of yourself so that you can maximize your own performance um by the mental state i'm talking about meditation breathing exercises whatever it takes to get you calm in the head so whatever it takes to be calm like that physical for me personally um i get um i get my mental piece from the physical side of things so um i'm i'm a former triathlete so i still run cycle and swim so if i go for a cycle ride or i go for a run apart from tiring me out which it has done a little bit today it puts me into a pretty good shape so that it removes excess aggression shall i say and is more likely to make me calm anyway let's ditch that um drawing for a second okay then the next step let me see okay ready that drawing panel is annoying me a little bit okay your trading plan um this is something that tom said i do recommend you go and read some of the stuff that is pinned in his discord room trading tom b um you need a trading plan if you don't have a trading plan stop go and write one i found because i've done lots of iterations of trading plans the best way to write a trading plan is to go through granular form this this app here is is a note-taking app it's called obsidian but i'm very happy in a future presentation to go through the whole concept of journaling but the reason i mention it is because this is in a zettelkasten format or basically granular bits and bobs and one way i'd recommend of doing your trading plan is doing it in granular jigsaw pieces and then putting them all together later in other words if you have a mental block about doing a massive trading plan despite having various formats templates etc do it in pieces do it in sections if today um you are able to write about the process for a setup write that if you're able to write the process for triggers tomorrow write that if you're able to write the process another day for the reasons why you're doing this um your risk processes your capital your emergency etc do all of those on different days if the whole thing is a mental block to you anyway that is another topic and i'm happy to get into it but that's just to state the the bleeding obvious that a trading plan is absolutely essential so the trading plan should cover your process and should definitely cover your setups and one that we've mentioned in the last few webinars which is the test of the supply and demand zone i'm just going to draw it again here just for the hell of it just to practice drawing for you okay so oops i have to draw a little bit more slowly it seems okay here you've got a supply zone price then goes down then price comes back up a test of a supply zone can be a test right to here it can be a test right to here it can be a test where it it fails to break out it just goes above it and it comes right back down so you can have a b i think it's c yeah i think it's because i was using one of my fingers on the touchpad affecting the drawing so apologies for that okay so um in other words what i'm trying to say is that um the test of a supply and demand zone is in some eyes three completely separate setups i grip them all together because i cannot tell in advance where they're likely to reverse if they are likely to reverse it could be at a it could be at b it could be at c and it does not matter and one of the reasons why this is a book map webinar is because i use book map to increase the probability that we'll find out whether it's likely to be a b or c anyway let me get rid of that drawing another terrible drawing okay all right um okay the very next thing is to review yesterday's action especially the afternoon and um here i'm actually not going to draw or i will um draw a little bit um on the profile so what i mean by that if we take yesterday's eth action and again i'm just checking to make sure there's no more comments here we have um yesterday's rth just in white here and i can always color them so you i can i mentioned previously all the gray ones are eth and all the white ones are rth i trade more in eth than i do in rth so the gray ones are important to me so i'll often have all of those visible just to remind me what crazy stuff can happen in eth uh and one thing i would like to mention uh one thing i'd like to mention is that in eth especially or probably just as much as in rth um um what they will do is absolutely test your resolve they will play games with you they'll push it much further than you can possibly think um and and that's why being able to look back on some crazy previous eth sessions can be useful okay and we're going to go through what happened at the london open a little bit later so um you know we can look at how far they can stretch things before they go on the path that you might have expected them to okay so if we then um pop this out so we can we can see what happened sorry i should actually just reset that i meant to do it for rth okay i'll just answer a question from tom um tom what graphics application i'm using okay this is epic pen pro i bought it when it first came out so it cost me 12 us dollars i think they have now moved on to this whole concept of software as a service in other words a monthly sub which i don't really like um so that's epic pen pro epic pen pro and i am using a drawing pad or digital tablet in this presentation to draw terrible stick images and that is an u g s one zero six zero basically a 10 inch drawing pad um which comes with its own pen um that's simply so i can i can write words as well as draw on um book map okay um anyway let us look at the et the rth action here the bars here are the 30 minute bars you can see that the action yesterday was a was a v-shaped reversal or a total reversal um and if i go right down into the bars and i squint i can see roughly when they um when the 11 o'clock 11 30 reversal was and it was basically one time framing which is in other words straight up after that okay um and if we did drag back the three minute bars and we could see exactly the same thing so if you look at the top right of the screen you can see that the reversal was right on 11 o'clock 11 am and we had a total reversal we also had some good economic news about the uh trade deficit not being as bad as previously thought so um so the the point to note um from our review of the rth session was that it ended on the strong note there was good economic news and um let me just remove that if we look at the type of profile this is where we will draw again okay so if we look at the type of profile here i've got to make sure my other fingers do not touch the drawing pad otherwise it does not work okay um and we move over to here we get the same kind of top let me see if i can just drag one out from earlier let me see if i can i just want to contrast how these things can end i could have to get rid of that uh because we've moved that let me and let me get rid of the evening profiles okay right now i just want to contrast the way that the last two rths and i'm just going to draw again so in the review of the eth sorry in the in the review of the um come on there we go um that one and this one i will reduce the um thickness of that thing because it's too thick get that down to there okay they are essentially fat or poor highs and if you can if you can trust that with let's make this one blue if you can't trust that with this one that is a little bit of the opposite so um when i'm talking about poor i'm talking about large a large amount of trades towards the top and a more balanced or extreme thinner ending on that one over there okay so the point of this review is you want to see whether the the previous day the rth session had that kind of fat um profile extreme and the logic behind that is that if it did and you have some bullish action going into it there is an increased probability that it will take out the the high of the day during the eth session um and if we go back onto that and we have a look get rid of those um so you have this fat one just here and this fat one just here um i know the perfect examples and again please ignore any perfect examples that i ever give um but they just happen to be they did happen to be taken out the next day um this one the probabilities increased because you have um some very bullish news and a v-shaped reversal which often continues into the asian session after that rth session so um anyway that is one thing that we do okay let's go back to the presentation okay the last major swing high and low we can do that actually in um if we scrunch this up and drag this around so what do i mean by that i mean the last major low and the last major high of the afternoon session um every time i use the mouse where we lose what i'm drawing but um what i tend to do is look at the afternoon session so i will look at something from around about here to there but because you've got quite a large range uh and because we finished quite close to that um to that high i'd be more interested in the high certainly for the asian session um after the asian session you probably have a another perspective on it um because you'd be able to take into account the action during the asian session okay i'm just going to stop and just see if there's any questions no absolutely no questions today okay all right um so yeah so so one of the things that you do is mark where the relevant highs and lows are so those two levels there would have been of interest to me and then the next thing that you do and i i actually have enough data in bookmap today and i made sure i did was that you then scroll back and you get into that afternoon session let me just drag all the way back here then one of the other things that you would do is look at what action happened at that high by way of what large trades and we're talking about really really large trades happened around about there so you've got a trade of about 533 we can zoom right in and break it down to smaller trades but essentially there are a couple of trades a 286 and a 250 so basically over 500 traded at that level there which was about 4521.5 and and the reason why we look at that is because they love to retest they love to retest where large trades happen and because we're talking about one of our setups being the retest of supply and demand that that has a lot of relevance to what we do okay let's just go back to the presentation okay so we've looked at the price action we've seen it's bullish we've seen that we have a poor high that's likely to be taken out we've we've marked on yesterday's high and low and we also look at the settlement we've got a proxy for settlement here which is this purple line at about 451850 and the reason that I mentioned and I mentioned that in the previous webinars is that they love to come and tag home this is considered the home level because that's where the RTH session finished so again the it doesn't happen every day it can not happen for several days in a row but one thing that they do like to do is to come back and tag home okay so yeah so we've looked at the afternoon session we've looked at the price action we've looked at the profile we've noted where the last swing highs and lows are we've noted where yesterday's high and lower and we noted where settlement is and we've looked through the profile and we've looked through the large trade so yeah we've done quite a bit on that and then the next thing we do is look through the economic release and earnings so we're doing a recap of yesterday's RTH and one of the things that I do find useful just in terms of brief snippets of information are some of the the recaps of the major news from from the session so you know one of the services I used is is financial juice which you've seen before on this webinar I'm also subscribed to various free newsletters you know services like substack are quite useful if you don't want your inbox being absolutely clogged but the idea there is you scan through just to see what the overall sentiment of the economic news and the news affecting the largest companies was during the RTH session and anything that came up towards the end of that afternoon or like last week we had big earnings releases of the big techs after the close things like that so all of that type of information is absolutely key knowledge to have in the in the ETH session okay then obviously you look at the economic releases earnings for ETH and RTH for Asia obviously it's Japan and China so you're looking at things like the the Chinese manufacturing the PMIs Japan interest rates anything like that anything major that's marked as read by your economics news provider forex factory is a free one that we have a screenshot of let me dig it out okay um yeah for example you can see the color coding of the forex factory I think most of the traders that listen to this podcast because I tend to go into quite a bit of detail would already know about this but basically we're looking at the economic releases that are marked read by the news provider so the the ones that are going to have a major or significant impact on volatility during the ETH session okay um and also what's you know what's obviously on the horizon for the the next RTH session and the breakfast and economic releases I mean with this one we were lucky enough to be around for non-farm payrolls on Friday um a lot of the times the the biggest U.S. economic releases are at 8 30 eastern or 9 30 sorry 7 30 central so they will happen in this breakfast webinar session that is still an ETH trading session for me the ETH trading session really does encompass from 6 o'clock eastern right through to 9 30 a.m the next morning so all of that is encompassed and you know that 8 30 economic release can be sometimes the only action that can be worth trading on a really really dull day okay let me just close up some of these so we can move back move down a bit I'm just going to see if there's any questions no no questions at all just checking to make sure we have some people on board yeah we do we do have some people okay um right so we have done that and we have done that relative volume okay I mentioned the sheep index previously and you know go through it a little bit more slowly or I'll speak more slowly on that um so the whole concept there is of relative volume over the last X days at the moment I'm looking at the last 10 trading days and I'm just about to draw again so I haven't drawn for a few minutes and I'm practicing okay right okay so the the sheep index I mean if we take the the volume in ES over the entire session but as on a cumulative basis so um if the session starts at 1800 or 6 p.m. Eastern let's just draw a line like that and then the volume might be like that for every hour etc and so the relative volume the cumulative volume goes up like that what we are doing is seeing whether the volume is comparable to the average volume over the last 10 days sorry the reason why I drew that is because it can go up and down all right and I also wanted to explain why this was lagging I calculate mine on a one or three minute basis so it's adding up the volume traded in ES over the last one or three minutes and then added up for every one or three minute period from 1800 onwards right till the end of the RTH session at 4.430 Eastern the idea is that at 1800 this is always going to be zero and so you might well get massive volume here but you are well under say the average was there you might be well under the average at that moment in time and then you get a big spike in volume and suddenly you're above the average so it's just something to bear in mind that if you look at relative volume it is lagging and it is never going to lead the volatility but it does have value and another terrible drawing let me just get rid of it the reason why it has has value is if you if early on in a session you get to 150 percent it's going to be a percentile the way I calculate it so 100 percent is going to be it'll match the average relative volume at that time of the day on a cumulative basis vis-a-vis the last 10 days or 15 days whatever you want to measure against and I will actually just show you what it is right now so if I put that there right the relative volume right this second is 67 percent okay right if that for if that percentage was you know after a big earnings release like the apple release last week it was somewhere around about 200 percent straight off the bat just after the asian open you know you're going to get a lot of volatility you can turn on that part of your trading plan that allows for smaller setups or smaller trades you know like scalps or semi-scalps or micro swings because you're going to get more of those if that's what you wanted to trade if that relative volume there was around about 35 40 percent then it's dull you're not going to get much volatility or you're not likely to get much volatility and certainly would not be worth in my opinion to do any scalping again I do I do trade from swings to micro swings to tiny scalps as well anybody that trades NQ will know that you can often have a trade that will either take you out or take you straight to the main target within a few seconds so you know when we're talking about scalping for NQ it's a little bit like swing trading for a yes okay but but if it's in the in the region of well over 100 percent you know you've got good volatility and that you may well have trading setups that appear that are worth taking an arse worth of risk on okay I'm just going to stop and just check for questions no no no more questions all right okay um just pull up an image here for a second yep okay I'm just checking on the youtube screen that that appears okay correlated markets okay um we discussed earlier the likelihood for bullish action in the asian session here it's appeared on the youtube now okay um yeah as I've mentioned previously I do look at the indices you know the asian indices during Asia European indices during Europe as the best form of correlation when I say I look at correlated markets I am not expecting it and I do not believe that they will necessarily lead NASDAQ or ES but if I step back and have a look at them they often give me an idea as to whether those markets are in value or are exploring value are you trending um and the reason why I put up this picture of of gold and um the US dollar DXY is uh we had we had um look at that picture yep that that one is not necessarily yep it is okay um you've got you've got gold shooting upwards and you've got the USD shooting downwards okay um over the last year or so we've had a high inverse correlation between the value of the US dollar and the NASDAQ for example uh and the US dollar is inversely correlated to gold well it has been for years and years and years so currently that correlation still holds so if you have that kind of action there where it's clearly trending down and I'll put clearly inverted commas but clearly in my eyes um suggesting that the US dollar is going down that adds weight to your bullish views on ES so that's the reason why I might have those um on my screens somewhere on my screens again not in a prominent area but somewhere on my screens during the Asian session uh and the US dollar probably throughout the day but gold I'm not a great or sorry I'm not a big gold trader I did used to used to trade it because it is active in the Asian session but I don't trade it as much anymore okay let me get rid of that image okay all right um and with the indices um I think I previously showed you um I will point this out as well I showed you that I'm using a free indicator um the Chris Moody high low open close it's completely free of the version that I'm using and I'm just using that as a proxy on the indices in trading view whether it's ESNQ or DAX NICI whatever to show yesterday's high low and close that's the only reason why it is there so if again I'm in the top right of the screen here if I zoom out you can see yesterday's high there yesterday's low there and yesterday's close i.e. the proxy for settlement there and I have that on all my indices and the reason why is that as I mentioned previously the ES and the NQ might like to tag home during the course of the ETH session and the same logically applies to the other indices which would have closed at a different time of the day from the ES and NQ um the DAX for example will close at around about 11.30 I think it is in summertime um so yeah it's something that I will have on my screens as the German markets open just to know where it's settlement and it's high and it's low is and where we are in relation to yesterday's range and as I mentioned previously yeah yeah sort of what do other uh you know what were the other big tech companies doing we're in a quasi AI bubble and I mentioned that in the first one of these webinars I did with Bruce a couple of weeks ago so whatever the main five do the rest of the market tends to look at very closely or follow very closely so I will look at any major price action in the apples amazons microsoft and videos of the world okay all right okay we will get back on to live price action and reviewing uh ETH action in a second again I'm just going to pause just to see if there's any questions no no okay um times of the day again this is something I've mentioned it's just worth mentioning again here when we're doing a recap of the planning you should do your own research and statistical analysis of the times of day that the ETH session has historically been volatile and is likely to do so again in the future again past volatility is known is no guarantee of future volatility at that time of day but but again logically speaking if you have a lot of volatility at the London Open that is one of the times of day that you might expect really good volatile action okay um so you know the times that I've mentioned previously the opening times for each of the indices markets and also the close of the Asian markets so yeah those kind of times but again do your own research find the times see if they fit in with the times that you are available to trade yourself statics uh statistics with a with a typo so let's get rid of the typo okay yeah um I am a big user and researcher I think it goes hand in hand with algorithmic trading um statistics to me are where you can find potential sources of future edge but in terms of your plan one of the statistics that I always look at every day is the sub-session range statistics um just to know what um you know what we could be up for um and again this is this is partly to cure bad habits and we all get into bad habits when we trade it'll partly be an emotional thing unless you're completely as cold as stone that you will need to sort out for yourself okay and one of the ways that I find that sub-session statistic by that I mean the average session range for each of ES and NQ for particular time slots or time ranges during the ETH session so the Asian time slot the the european breakfast just to see what the average ranges are again I have those on my screen so I know I can I I can know immediately that if I look at the ES range right now the ES ETH range today is 21 points oh is it 21 points 21 points yes sorry 21 points and that the average over the last 10 trading sessions has been 29 points so it's just something to know it's especially useful I find at the beginning of that sub-session so you know again for example the NASDAQ european average at the moment is 104 points so if you were to say for example to fade an opening move higher and we're going to go and look at this now in bookmap and you did not put a stop on or you placed a very wide stop you should know that that 104 point range could be right from the open and it could be right upwards so you could you know if you faded it and the range has only been 10 points so far you could certainly find yourself on average 90 points down which could break your account so again that's just something to have a look at and and with that in mind let's go and have a quick look at how the NASDAQ opened the the London session yeah this yeah this is directly relating to those range statistics so if we go back to the 3 a.m let's go zoom out again almost there okay and if I wind this back here okay so we're talking let me just get the pin out again and draw on this so we're talking about this open here which was a vertical open where it went straight up and this action in bookmap where it went straight up okay if you've got some range statistics that it could be over 100 points on average and you've got relative volume for the day although 100% it wasn't in this case as I mentioned earlier than about 60% and you decide to so you you look at this action here and you decide you want to fade it whether it's there or just a little bit later there for whatever reason you know these aren't real setups so this is just me hypothesizing you are in potential danger of being 90 points down or 100 points down if you do not place a stop and a stop as I said previously what I believe in is having equal dollar value risk for each and every trade that you take so for example if you were trading 200 or 250 dollars per trade if you had a stop you're 200 or you're $250 down if you do not have a stop that action can go against you a very very long way at that london open and it's just something to bear in mind that they will play games and they will try and break people for whatever reason or for no reason at all during the volatile periods of eth and the fact that it is it is thinner i.e. the liquidity is much less than an rth enables them or helps them do just that let me just remove that okay and where were we we were back on this presentation okay right yeah now we are really really into the book maps things I just wanted to go through that just to keep everybody abreast that trading an eth is not just taking taking trades just off off the bat as I'd say there is still a lot of preparation and a lot of research that goes into and it is something which involves just as much process as your prep for the rth okay all right let us again we're going to zoom right back so the final thing which is a very much a book map specific thing is looking where the liquidity is and the resting liquidity especially I mentioned that we tend to discount these round numbers at 50s and the hundreds but I mean even though this is really really zoomed out you can see from an early on in the session perspective that the liquidity in ES was above and you know if we actually zoom right into that it becomes a lot more apparent you know so if you're looking at it again that's you presume in a little bit more that kind of action yeah say for example at 10 p.m. new york time or even earlier as we opened up into the the japan open which is really around about that period and later the china open all that liquidity was above so yeah my perspective on this is that if the liquidity is clearly one-sided and it also directly corresponds with the kind of action that you're expecting in other words bullish for the reasons that we discussed earlier and you have liquidity above and you're you know quite away from it that is going to add to the confluence for long potential setups to get you towards that liquidity in other words it's going to act as a magnet okay and I always look at ES and NQ liquidity together so on my screens these are in separate windows they're not in in tabs so I can see them side by side and also sometimes the liquidity will be clearer in NQ sometimes it'd be clearer in ES sometimes it's unclear in both and sometimes it's clear in both and if we have a look yeah at the open it was much clearer in ES so even if we zoom out a little bit and look at the action you had that resting liquidity up here at about 15 363 that got taken out quite early in the Japanese open session but you also have this liquidity below and it turned out that was not relevant for that Asian session you know it was just a game that they were playing but they were trying to actually draw people upwards it was much cleaner and much clearer to see that from the ES that we just looked at okay so that's 45 minutes again not a question ah there we go there is a question Hayden um no I don't know I don't know Hayden um no if you're in WA yeah feel free you know get in touch and you know we can always have a chat or coffee or whatever um yeah uh the answer is no I don't know whether there is such a community all right let's get back on some live action and so we can have some live analysis because this is what I always try and do during the one hour I know that I took up three quarters of the hour today um on planning and preparation but it is so important in my personal opinion to do that um anyway let's have a quick look at what has happened okay so first of all we will just zoom out for ES this is the art the ETH session so we had that bullish perspective we blasted higher at the the London Open had a pullback to VWAP VWAP is the black line there then we took out the um the London Open High um had various um failed breakouts or an attempt at a failed breakout three separate little spikes higher and then we moved back down through VWAP and went back in value so this dark gray area I've mentioned previously is one one standard deviation from value and it's just a proxy or an approximation of value but we're we're within value and if we had a look at um just get rid of the where are we here um we are just above yesterday's high but we're in value for this session and value roughly speaking is that area there okay so we're in really nothing landed at the moment so we'll have a quick zoom out we can see some clear bands of liquidity above which may attract us later um there is um yeah we had a look at the economic release and we're well past 2030 and there's been no major volatility in this session so the moment um the clearest thing we're seeing from the um from the overview of the heat map is the liquidity above in ES and if we switch across to NQ just zoom backwards a little bit just to see if anything has been resting at any interesting level you've got this level here at 15 360 which has been around for a long time but they've added subtracted so when the when it's not static or when it's not even relatively static um I discount it I don't pay as much attention to it as if that had been solid if for example there has been completely solid all the way through say from the japan open or from mid morning japan time which is you know about 10 30 11 their time um and it stayed or stayed that completely static all the way through then you'd have it as some kind of potential tag area during rth or the end of eth I mean since we are approaching the end of eth now um again it does not predict in any way what may happen first in other words the market may go up 200 points first but it's just a potential tag area that you keep in the back of your mind it does not take you I mean for example you have this this strong liquidity below that you believe is a magnet it should not stop you taking good longs that are in accordance with the setups that are in your trading plan but if you happen to get into a short later and you happen to have a scale out plan and you could keep a runner that is one potential target that that liquidity can then be okay one of the other things that we tend to look at on these little micro swings are unfinished auctions below and above it's a small one in let's just drag this down in nq you can see that there are sellers and buyers at that level but it's such a small amount of volume that we tend to disregard that and on es how are we going now you on this little scene here there's no unfinished auctions we're just trading in value between two liquidity zones and inside the the day's value um we are above settlement which has not been tagged and we're not not that far from it I'm just having a look I've got a level here um something again that I mentioned in my planning process this isn't you know this is now an old level but it's worth mentioning just in terms of how you plan for things um I I mentioned about 30 minutes ago whenever it was about that large trade it was actually about 500 in Sierra that to me was a 435 trade so I marked it in Sierra and it automatically appears in this custom notes gone I basically wrote a little um uh wrote a little script inside Sierra so that it magically appears here um within the next 60 seconds uh just something that I find useful um just so that you know if you are not trading directly in bookmap or using bookmap for analysis um then you know the the platform that you are trading in to have some direct interface with bookmap is useful and for me I find that the bookmap API and also this cloud notes feature is is really good so it's so it was relatively simple to write that script okay just looking at the largest levels on it there's nothing huge here so there's nothing that really really stands out so you you have this level which has stayed at a decent amount all day but in oldiest terms that's peanuts you know even if that is actually 179 it is 179 that is nothing to the levels um that um that we used to have for liquidity at individual price points there's one thing I actually had in my presentation for planning uh that um I didn't properly cover so I just mention it now and again it is really really important for eth which is a measure an objective measure of the current volatility in liquidity so I just mentioned for example you know what I thought of that 179 down there or whether it's gone down to 183 it appears now um I think it is worth having tools whether you buy them yourself or you develop them yourself that you can measure the volatility in the market and also the liquidity the liquidity will not be lagging but the volatility by its nature will be lagging because volatility will be measured over a past period of time but just to know um you know if if you're if you're measuring volatility on a very very small time frame um to be able to see it really really pick up um so yeah something again that I you know I can read off the the um I can read straight off my my chart so I can tell you that the average liquidity um by the objective reference that I have for ES is 78 and for NQ is 7.8 so it's like 10 fold difference and the volatility in NQ is 20.5 and the current volatility in ES is 4.8 and that's in terms of um ticks over a very very short period of time it's just something that can be useful so that if it if it's something that you observe from time to time and again you can have checklists of things that you check every hour or half hour or you or maybe it's just ingrained into your subconscious um it's just something that you can see that volatility is picked picked up or not and that can also play out directly in your trading setups and your risk setups so um you know one of the things that maybe we should get into in a future session is how you set your stops um for um for the setups that you take you know whether whether you have fixed stops whether you have volatility based stops and again um my personal preference is to make sure that the risk that I take is equal dollar value every single time um but yeah but if you have an objective measure of volatility it is a factor or a formula or a calculation that can be used in determining a volatility based stop um one of the reasons why I mention a volatility based stop is because it it reconciles or it it equates to our vision that we cannot predict the future in other words if you in the in the eth session for es you always have a two point stop or because that's what you've been good at or that's how your setup is for eth that is ignoring the current volatility that might be in place and that is just relying on um your belief rather than a total objective view or or maybe anyway nothing that that anybody else says again is can be concrete and trading but it's just an opinion um uh you know there are there are things in book map that can um give us potential very very very tight stops that were clearly wrong behind you know for example um you know if we were positioning a stop behind this heavy ban of liquidity that might be a liquidity based stop but you can also have volatility based stops um and I do believe that if you occasionally you don't have to use them all the time but if you do occasionally switch over to volatility based stops you are accepting that you cannot predict the um the future and just because you think it's definitely going to hit this stop here wherever here was um whenever you say that in out loud to yourself you are telling yourself you can predict the future which goes against every rule of successful trading in my opinion we cannot predict the future and every single trade that we take has to be necessarily a 50 50 proposition even though 20 of the same trades may have a completely different probability it's just every individual trade is it's its own bet gamble whatever you want to call it with a 50 50 probability okay i'm going to just stop there because i think there's another question okay uh bound here um yeah i've used um seara charts for a long time so i have um yeah i've written quite a lot of stuff in that and they have a they've they've got a language where you you can actually write um scripts formula whatever without knowing too much programming or you can delve into the magic world of c double plus which um i i do program in i program in that i also program in pine script for trading view and occasionally in python as well because python's a good interface for example in python you can interface directly with book map so you can um code your own indicators or whatever your own interfaces into book map um and when the interface to market pulse is i think officially released open um i will be looking at using python to um script a couple of things in market pulse that i'd love to see with the microscopic data that or the microscopic snapshots of data the book map does you know you know the way that the book map if you zoom right in it's every you know microsecond or whatever uh and uh market pulse you can set down to 10 millisecond 20 milliseconds 50 milliseconds whatever snapshots you want for for your um calculation so you can look at lots and lots of things the commonly available ones are things like price change and volume pressure which is just there and there but um there are also other things like book pressure which would be quite interesting to to code inside market pulse anyway i think i am getting towards the end of the hour so i will um i'll wrap it up there and just ask for any final questions um you know we've got a few people in in discord i think we've got no we've got a few people in youtube as well i'm hope that was not too generic um again i'm happy to cover popular topics i um you know directly related to setups as well like um you know the supply and demand concept and the overlap with volume profile i'm happy to you know just to dig into that uh more um week upon week but anyway um feel free to you know post comments about what you'd like this to cover but i will call it a day so um thank you for watching